Sanad Logs AED 2.3 Billion In Revenue During First Half Of 2024

Sanad, a global leader in aerospace engineering and leasing solutions under Abu Dhabi’s Mubadala Investment Company PJSC, has reported notable performance for the first half of 2024. The company achieved AED2.3 billion in revenue by mid-2024, driven by its core Maintenance, Repair, and Overhaul (MRO) and Leasing divisions. Sanad anticipates ending the year with AED4.5 billion in revenue, marking a 28 percent increase over 2023 and doubling the revenue from 2022.

The Group has expanded its global footprint, with approximately 96 percent of its revenue generated outside the UAE. This shift underscores Sanad's transformation into an export-driven business. New agreements with international airlines such as Asiana Airlines and Deucalion Aviation have bolstered Sanad’s committed backlog to AED33 billion, adding around AED4 billion to its contracted business in 2024.

Sanad’s MRO division showcased impressive results in H1 2024, planning for 160 engine inductions throughout the year—a 22 percent increase from 2023. This growth is attributed to rising global air travel demand and strategic agreements with Deucalion Aviation and Asiana Airlines. In H1 2024 alone, 70 engines across four product types were inducted.

Significant investments exceeding AED100 million were made in capability development and facility upgrades. These investments have enhanced Sanad’s operational efficiency and capacity to meet increasing global demands. The company has increased engine inductions of models like CFM LEAP, Rolls-Royce Trent 700, International Aero Engines V2500, and GE Aerospace GEnx.

Amer Siddiqui, Group Chairman of Sanad, stated, "Sanad’s vision to become a global aviation services champion is driven by a commitment to continuous innovation and industry-leading service standards. Our robust performance reflects our steadfast commitment to our strategic vision, which supports the UAE’s aviation ambitions on the global stage."

Commitment to Excellence

Mansoor Janahi, Managing Director and Group CEO of Sanad, commented on their performance: "Our performance in H1 2024 reflects our unwavering commitment to excellence and strategic growth. As we look ahead, we are confident in our ability to continue delivering value and quality to our stakeholders and achieving our vision of becoming a global MRO champion."

Sanad remains dedicated to becoming one of the leading independent engine MRO service providers globally. The substantial growth in MRO revenue highlights Sanad’s successful integration of new capabilities while enhancing operational efficiency.

The company's achievements underscore its strategic initiatives within the global aviation industry. With continued focus on innovation and service standards, Sanad is well-positioned for sustained growth.

Sanad's progress reflects its commitment to supporting the UAE's aviation ambitions on a global scale while maintaining high standards of service excellence.

With inputs from WAM